UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 7,570 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,977 shares of the business services provider’s stock after buying an additional 7,570 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kelly Services were worth $1,541,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KELYA. Pacer Advisors Inc. raised its stake in Kelly Services by 45.7% in the third quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock worth $25,944,000 after buying an additional 380,035 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Kelly Services by 1,730.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock worth $5,011,000 after buying an additional 221,271 shares in the last quarter. American Century Companies Inc. raised its stake in Kelly Services by 35.9% in the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after buying an additional 180,238 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Kelly Services by 178.3% in the second quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock worth $3,331,000 after buying an additional 99,699 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Kelly Services in the third quarter worth about $2,122,000. 76.34% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Daniel H. Malan purchased 3,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the acquisition, the senior vice president now directly owns 95,906 shares in the company, valued at $1,331,175.28. This represents a 3.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Kelly Services Price Performance

Shares of KELYA opened at $13.67 on Tuesday. The stock has a market cap of $486.79 million, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. Kelly Services, Inc. has a fifty-two week low of $13.44 and a fifty-two week high of $25.27. The firm’s 50-day simple moving average is $17.16 and its two-hundred day simple moving average is $19.81.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. Kelly Services’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Analysts anticipate that Kelly Services, Inc. will post 1.93 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Wednesday, November 20th. Kelly Services’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

Separately, Barrington Research decreased their price target on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 18th.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.